Venture capital firm Avaana Capital, which focuses on climate change, has closed its $135 million Avaana Climate and Sustainability Fund.
The Green Climate Fund (GCF) was among the institutional investors who supported the fund, according to Avaana Capital. The United States International Development Finance Corporation (DFC), the UK Government through the UK-India Development Cooperation Fund (UKIDCF), the Small Industries Development Bank of India (SIDBI), the Self-Reliant India (SRI) Fund, Azim Premji Trust, and a number of major corporations are additional important participants.
The Mumbai-based company will make investments in startups that use technology to develop scalable solutions for adaptation and mitigation of climate change, supporting India’s transition to net zero.
The Avaana Climate and Sustainability Fund will also make investments in cutting-edge, tech-driven climate solutions under the direction of Anjali Bansal and Swapna Gupta. Sentra, Aerem, Kazam, and Eeki Foods are some of its noteworthy portfolio investments.Turno, Terra.do, Eggoz, FarMart, Ninety One 91, and the world.
For the first close of its Avaana Climate and Sustainability Fund, Avaana Capital raised $70 million in June of last year.
